Home Capital Broker's Calls

Property and banking market heading 'into uncharted territory': DBS

Lim Hui Jie
Lim Hui Jie7/30/2020 04:30 PM GMT+08  • 3 min read
Property and banking market heading 'into uncharted territory': DBS
Analysts are predicting an uncertain future for the property and banking sectors for the rest of 2020 and into 2021.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Analysts are predicting an uncertain future for the property and banking sectors for the rest of 2020 and into 2021.

DBS analysts Lim Rui Wen and Derek Tan expects job losses and resident unemployment rate to hit a high of around 98,000 and 4.2% by end-2020 respectively, as Singapore’s economy is expected to post its steepest contraction due to the COVID-19 pandemic.

This will continue to weigh on the outlook for the property market and banking sectors, especially with government job support measures ending by 3Q20. Further macroeconomic data points such as potential structural job changes post COVID-19 and future tightening of foreign policies impacting the rental market will be keenly watched.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.